The global vitamin supplements market size was valued at USD 51 billion in 2022, driven by the rising incidence of nutritional deficiencies in all age groups associated with health across the globe. The market size is anticipated to grow at a CAGR of 7.2% during the forecast period of 2023-2031 to achieve a value of USD 95.6 billion by 2031.
Vitamins are organic compounds that are used by the human body in very small amounts, for a variety of metabolic processes. It is best to get vitamins and minerals from eating a variety of healthy unprocessed foods. Contrary to popular belief, vitamins are not drugs or miracle cures. They are organic compounds that participate in various metabolic functions. High-dose supplements should not be taken unless recommended under medical advice.
The increasing demand for vitamin supplements due to the increasing incidence of vitamin deficiency among people is driving the market growth. However, the increased demand has created an imbalance in the market as supply and demand mismatch, which is further creating an opportunity for key players and other companies to manufacture and develop new products in the market, further propelling the global vitamin supplement market growth.
The rising awareness and desire among people to reach a certain level of weight by gaining or losing weight is also driving the increased demand for vitamin supplements in the market. The vitamin supplement market for weight gain is much dense than weight loss due to factors such as targeted or general weigh gain for example, desire to increase muscle mass or general weight gain. Consumers look for certain vitamin supplements which may fulfill their requirement such as appetite-stimulating supplements or weight-gain powders. The supplement and pharmaceutical companies are increasing their reach to customers through various platforms and tactics including targeted marketing, digital advertising, and social media, among others.
Additionally, the increasing influence of social media on people in also a major trend driving the global vitamin supplement market demand. Companies are trying to develop new formulations that are easy to consume and readily available on multiple distribution channels, such as offline pharmacies, retail stores, and online stores, among others, which is increasing the convenience and availability of these supplements, further increasing the market demand.
The introduction of ready to consume supplements, such as vitamin gummies, that are easy to consume, easily available, affordable, and are available in multiple flavours is rising at a fast pace. The increasing awareness among people in preventive care is also a significant driver of the market as health expenditures are rising globally where major reason is increase in chronic diseases. 14 million people are expected to experience at least one chronic condition over next decade. This combination of rising healthcare costs and the growing prevalence of chronic conditions is contributing to a consumer mindset shift towards prevention.
Market Breakup by Type
Market Breakup by Form
Market Breakup by Source
Market Breakup by Distribution Channel
Market Breakup by End User
Market Breakup by Region
The increasing investment by the key players is a major factor driving the market growth. The rise in geriatric population is collectively contributing to the market growth as with increasing age, older people get more prone to multiple sorts of deficiencies. The usual supplements do not taste well or are hard to consume for older people such as tablets or capsules. The innovations such as gummy supplements and powder supplements are solving this issue and increasing the demand for them in the market as they are easy to consume and taste well. The increasing research and clinical trials for development of plant based or vegan supplements due to the increasing demand in the market are also major factors. The increasing disposable income among people is also driving the market growth.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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|Breakup by Form||
|Breakup by Source||
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Vitamin Supplements Market Overview
3.1 Global Vitamin Supplements Market Historical Value (2016-2022)
3.2 Global Vitamin Supplements Market Forecast Value (2023-2031)
4 Global Vitamin Supplements Market Landscape
4.1 Global Vitamin Supplements Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Vitamin Supplements Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Form
4.2.3 Analysis by Source
5 Global Vitamin Supplements Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Vitamin Supplements Market Segmentation
6.1 Global Vitamin Supplements Market by Type
6.1.1 Market Overview
6.1.2 Vitamin A
6.1.3 Vitamin B
6.1.4 Vitamin C
6.1.5 Vitamin D
6.1.6 Vitamin E
6.1.7 Vitamin K
6.2 Global Vitamin Supplements Market by Form
6.2.1 Market Overview
6.3 Global Vitamin Supplements Market by Source
6.3.1 Market Overview
6.3.2 Plant Source
6.3.3 Animal Source
6.4 Global Vitamin Supplements Market by Distribution Channel
6.4.1 Market Overview
6.4.2 Supermarkets and Hypermarkets
6.4.3 Retail Pharmacy
6.4.4 Online Sales
6.5 Global Vitamin Supplements Market by End User
6.5.1 Market Overview
6.6 Global Vitamin Supplements Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Vitamin Supplements Market
7.1 Market Share by Country
7.2 United States of America
8 Europe Vitamin Supplements Market
8.1 Market Share by Country
8.2 United Kingdom
9 Asia Pacific Vitamin Supplements Market
9.1 Market Share by Country
10 Latin America Vitamin Supplements Market
10.1 Market Share by Country
11 Middle East and Africa Vitamin Supplements Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.5 South Africa
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
17 Supplier Landscape
17.1 Glanbia PLC
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.2 Bayer AG
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.3 Amway Corp.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.4 NOW Foods
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.5 The Nature's Bounty Co.
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.6 GlaxoSmithKline plc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.7 Good Health New Zealand
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.8 Nature's Sunshine Products, Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.10 Herbalife Nutrition
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.11 American Health, Inc.
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.13 RBK Nutraceuticals Pvt Ltd.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
18 Global Vitamin Supplements Market - Distribution Model (Additional Insight)
18.1 Market Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
*Additional insights provided are customisable as per client requirements.
The vitamin supplements market value was close to USD 51 billion in 2022, driven by the increasing demand.
The market is anticipated to grow at a CAGR of 7.2% during the forecast period of 2023-2031, and likely to reach a market value of USD 95.6 billion by 2031.
The rising disposable income and increasing vitamin deficiencies among people are among some of the key factors driving the market growth.
The increasing approvals and innovations of innovative forms of vitamin supplements is a major trend aiding the market growth.
There are several types of vitamin supplements in the market such as vitamin A, vitamin B, vitamin C, vitamin D, vitamin E, vitamin K, and multivitamin, among others.
The different forms of the supplements include tablet, powder, capsule, gummies, among others.
The vitamin supplements could be produced from plant source and animal source, among others.
Distribution channels include supermarkets and hypermarkets, retail pharmacy, and online sales, among others.
End users in the market include pediatrics, adults, and geriatrics.
Key players involved in the market are Glanbia PLC, Bayer AG, Amway Corp., NOW Foods, The Nature's Bounty Co., GlaxoSmithKline plc., Good Health New Zealand, Nature's Sunshine Products, Inc., Abbott, Herbalife Nutrition, American Health, Inc., RBK Nutraceuticals Pvt Ltd., and Pharmavite.
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